U.S. Cancer Biopsy Market – Industry Insights by Application, 2028

The U.S. cancer biopsy market size was valued at USD 6.96 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 11.0% from 2021 to 2028

The U.S. Cancer Biopsy Market size is expected to reach USD 15.98 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 11.0% from 2021 to 2028. The increasing usage of technologically advanced devices for the early detection of diseases is one of the key factors driving the market.

A significant transaction from tumor to liquid biopsy is anticipated to increase the adoption of this technique in the market. Acknowledging this trend, several operating entities have undertaken various initiatives to expand their biopsy kits portfolio. For instance, in June 2021, Biocept, Inc. and Quest Diagnostics collaborated to offer NGS-based liquid biopsy testing for lung cancer diagnosis.

Furthermore, supportive regulatory and reimbursement scenarios in the country have supplemented the market growth. The U.S. FDA is actively engaged in supporting the commercialization of cancer biopsy products and increasing the use of these assays in clinics. For instance, in March 2021, the U.S. FDA granted a breakthrough device designation to RaDaR-a liquid biopsy assay to detect minimal residual disease in early-stage cancer.

Related Press Release@ U.S. Cancer Biopsy Market Report

U.S. Cancer Biopsy Market Report Highlights

• The fine-needle aspiration type segment accounted for the largest revenue share in 2020 owing to it being a well-established approach for the initial diagnosis of most of the body lesions. Among various biopsy techniques, fine-needle aspiration has witnessed significant popularity in diagnostics
• By type, the others segment is expected to expand at the fastest CAGR of 15.2% from 2021 to 2028. Liquid biopsies are anticipated to witness considerable growth over the forecast period due to the advancements and increasing regulatory approvals in the U.S.
• Screening and monitoring emerged as a dominant application segment in 2020. Follow-up or repeat biopsy procedures are fueling the growth of this segment
• Key players are collaborating with biopharma developers to support their product development process